Tripoli based Libyan Prime Minister Abd Alhamid Aldabaiba received a high-level delegation from the British company Shell on today. The delegation included Richard Howe, Executive Vice President of Conventional Oil and Gas; Fakher Bader, Vice President and Head of the UAE and Iraq branch; and Martin Garvelink, General Manager of New Business Development.
The meeting was held within the framework of the government’s plan to increase oil and gas production rates and enhance international investor confidence in the Libyan energy sector.
The meeting was also attended by Acting Minister of Oil and Gas Khalifa Abdel Sadig, Chairman of the National Oil Corporation (NOC) Masoud Suleiman, and Mustafa Al-Manea, Head of the Executive Team for the PM’s Initiatives and Strategic Projects.
Activating January’s MoU, expediting Shells return to Libya
The meeting addressed mechanisms for developing the Memorandum of Understanding signed between the NOC and Shell last January. Discussions focused on activating and implementing the agreement to expedite Shell’s return to the Libyan market and support exploration and development programmes, as well as improving the efficiency of existing fields.
Clear vision for increasing production with international partners
During the meeting, Aldabaiba affirmed the government’s commitment to implementing a clear vision for increasing production and achieving its stated targets. He emphasized that partnerships with major companies are a fundamental pillar for achieving technical and financial stability in the oil and gas sector and creating a competitive and secure investment environment that enhances the attractiveness of the Libyan market.
The Prime Minister also renewed the government’s commitment to supporting the return of major international energy companies to work in Libya, and to providing them with the necessary facilities, which will enhance the country’s position as a reliable energy supplier and drive economic development in the coming stages.
